https://www.taxtmi.com/caselaws?id=38620 Relief under section 15C was not denied because the assessee's undertaking was held not to have been formed by transfer of machinery or plant previously used in another business. The decisive factual test was whether the reconditioned machinery constituted the nucleus of the new undertaking; on the findings, it did not, as most of the machinery used in the relevant years was new. The expression "machinery or plant used in any business" was construed as referring to machinery previously used in business in India. As no material showed prior use of the imported reconditioned machinery before installation, the disqualifying condition was not proved and the exemption remained available. en-us Tue, 13 Jul 1976 00:00:00 +0530 Wed, 07 Apr 2010 16:07:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38620 Relief under section 15C was not denied because the assessee's undertaking was held not to have been formed by transfer of machinery or plant previously used in another business. The decisive factual test was whether the reconditioned machinery constituted the nucleus of the new undertaking; on the findings, it did not, as most of the machinery used in the relevant years was new. The expression "machinery or plant used in any business" was construed as referring to machinery previously used in business in India. As no material showed prior use of the imported reconditioned machinery before installation, the disqualifying condition was not proved and the exemption remained available. Case-Laws Income Tax Tue, 13 Jul 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38620